Ann: WEC signs option agreement to acquire U.S. C, page-5

re: Ann: WEC signs option agreement to acquir... I fear WEC will need to demonstrate feasibility of BCB on the large scale before they can ink an acceptable deal with any of the major coal producers. It's the still missing proof of concept that has been weakening their bargaining hand and foiling plans for a substantial project in South Africa. There's probably no alternative to acquire a small mine and build a BCB plant on their own. Unfortunatley much of the remaining cash reserves will probably be drained before we will see a BCB plant running at nameplate capacity and yielding some cash inflow. That said we have to be realistic with our expectations.